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Retained Earnings Prior

Received Response
edited May 13, 2018 5:22PM in Financial Consolidation and Close 5 comments


Settings for Retained Earnings Prior and Translation



We used the Oracle default setting: Historical, for Exchange Rate Type of account FCCS_Retained Earnings Prior. We have a journal posted to FCCS_Retained Earnings Prior and FCCS_OpeningBalanceAdjustment (movement), level 0 entity (non-USD entity), Dec 16. (Dec 16 is our starting period of data). We book topsides for all opening retained earnings balances in Dec 16. The balance (non-USD) in Dec doesn't get translated and does not aggregate to parent entity which is in USD. Assume that it is intended because RE opening balance should be historical USD balance and should not be translated monthly. Can you please let me know the correct settings for FCCS_Retained Earnings Prior? Should I change it

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